Aon Broker Terence Bohan Recognized as a 2020 Real Estate Power Broker
Terence Bohan, Senior Property Broker/Vice President, Aon
When Terence Bohan took over the account for an affordable-housing developer in Colorado, his suggestions had a familiar ring to the developer’s risk manager and general counsel. Bohan floated things the executive had asked for in the past but never been offered. “It was an instant match,” he said.
And it has proven to be an effective match, as Bohan helped the company grapple with a challenging renewal in 2019. Bohan worked with the company to craft a marketing strategy that included face-to-face visits to insurance markets in Los Angeles and London.
Bohan also built in time to avoid last-minute surprises and to ensure everything stayed on track. The firm ended up with a moderate premium increase at a time when real estate companies are facing increases as high as 30%, tighter limits and non-renewals.
“We were on the very low end of that spectrum,” the risk manager and general counsel said. Despite the increase, the executive said, “We were so happy we ended up giving Aon a lot of our other insurance renewals.”
For another client, Bohan was able to negotiate downward some of the price increases sought by the client’s long-time carriers. And he was not shy about exploring alternatives, according to the company’s vice president of insurance and benefits.
“Terence managed the line-up of carriers on our program and was not afraid to position replacements for some long-standing carriers, which were asking [for] excessive rate increases,” said the executive.
A Risk & Insurance Power Broker® is an individual who stands out among their peers for the exceptional client work they delivered over the past year. While brokers play many key roles in the insurance industry and risk profession, a Power Broker® award recognizes problem solving, customer service and industry knowledge.
Our goal is to broadly recognize and promote outstanding risk management and customer service among the brokerage community.
Who selects the winners?
Power Brokers are selected by risk managers based on the strength of the testimonials they provide to a team of 15 Risk & Insurance editors and writers.